Nemes Rush Group LLC Sells 107 Shares of General Dynamics Corporation (NYSE:GD)

Nemes Rush Group LLC lowered its holdings in shares of General Dynamics Corporation (NYSE:GD) by 2.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,616 shares of the aerospace company’s stock after selling 107 shares during the quarter. Nemes Rush Group LLC’s holdings in General Dynamics were worth $986,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Rialto Wealth Management LLC raised its holdings in General Dynamics by 213.8% during the 1st quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company’s stock valued at $25,000 after buying an additional 62 shares during the period. Inlight Wealth Management LLC bought a new position in General Dynamics during the first quarter valued at $26,000. Copia Wealth Management bought a new position in General Dynamics during the fourth quarter valued at $27,000. Smallwood Wealth Investment Management LLC purchased a new stake in shares of General Dynamics in the first quarter valued at $27,000. Finally, Hoey Investments Inc. bought a new stake in shares of General Dynamics in the 4th quarter worth about $28,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Phebe N. Novakovic sold 7,639 shares of General Dynamics stock in a transaction on Monday, June 16th. The stock was sold at an average price of $280.44, for a total value of $2,142,281.16. Following the transaction, the chief executive officer directly owned 769,607 shares in the company, valued at approximately $215,828,587.08. This trade represents a 0.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by corporate insiders.

General Dynamics Stock Performance

Shares of General Dynamics stock opened at $313.92 on Friday. General Dynamics Corporation has a 12 month low of $239.20 and a 12 month high of $322.50. The stock’s fifty day moving average price is $287.67 and its 200-day moving average price is $272.23. The firm has a market cap of $84.44 billion, a P/E ratio of 21.07, a P/E/G ratio of 2.06 and a beta of 0.46. The company has a current ratio of 1.36, a quick ratio of 0.82 and a debt-to-equity ratio of 0.32.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 EPS for the quarter, beating analysts’ consensus estimates of $3.47 by $0.27. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. The business had revenue of $13.04 billion for the quarter, compared to the consensus estimate of $12.13 billion. During the same quarter last year, the firm posted $3.26 EPS. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, equities research analysts expect that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Thursday, July 3rd. General Dynamics’s dividend payout ratio (DPR) is 40.27%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GD. TD Cowen upped their price target on shares of General Dynamics from $290.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, June 25th. Morgan Stanley cut their target price on General Dynamics from $305.00 to $300.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 24th. Citigroup increased their price target on General Dynamics from $348.00 to $368.00 and gave the stock a “buy” rating in a report on Thursday. JPMorgan Chase & Co. boosted their price objective on General Dynamics from $284.00 to $345.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Argus set a $295.00 price objective on General Dynamics in a research report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $312.17.

General Dynamics Company Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.